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2
Aug

American Home Mortgage - Facing the sad facts

Posted by: Alex
in Mortgage

In the past five years I have found some fantastic investments, and noted them. American Home Mortgage (NYSE: AHM) is not one of them and it’s time to face the facts and take the hit. IT WAS A BAD CALL ON MY PART, even it was not a direct recommendation. There is no getting around it, AHM is in trouble and to say it was my worst call since the bubble burst is not much relief.

I wrote a story in May titled Someone asked about Amercian Home Mortgage, and although I only said this one is worth watching, I was still calling attention to a stock that did not pan out and for that I deserve at least some boos from the crowd. The following was taken from the story:
The most recent Standard & Poors report from May 2, 2007 rates AHM four stars with a buy rating. Quoting from the report, “While we see AHM’s exposure to the ALT-A market affecting near-term earnings, we believe it remains well capitalized and positioned for long term growth.” They go on further to state that “…the price is warranted by what we see as it’s strong balance sheet.” I must point out that this was written about the same time as AHM Shares Fall on Stock Sale when AHM sold common shares to increase it’s liquidity and numerous analysts expressed concern about it’s financial strength. I am not sure this is accounted for in the S&P report.

While I did raise some questions and each investor should do the same AHM seems to have had even more aspects to question back then, and the same is true today. James B. Stewart of the Wall Street Journal and Smart Money recently wrote a similar story line (including discussion about not catching a falling knife and diversifying) and he actually did a little worse, he had bought in. Given the inevitable litigation I not only wonder now if it can survive, but if it will be driven into bankruptcy not by its sad loan portfolio but by the legal costs to defend itself. AHM closed at $1.48, up for the day, but no consolation given its long slide (from $20 when I posted) and current status.

Those of you who are new to BloggingStoctks can check out my other stories and read Chasing Value or Serious Money to find more potential opportunities and verify my track record as well - INCLUDING ANY BAD CALLS.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm.
http://www.bloggingstocks.com/2007/08/02/american-home-mortgage-facing-the-sad-facts/

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29
Jul

How To Get The Best Mortgage Quote

Posted by: Alex
in Mortgage, Loans

There are thousands of people in the UK looking for the best mortgage quotes. It is mainly based on your credit history. There are Internet mortgage quotes available, even for those who have bad credit.

People with adverse credit thinking that a sub prime loan corporation might endorse a mortgage deal for you, it is possible, however the product will have a high interest rate. Your interest rate will be higher, but if repayments are made on time, you can build your credit history back.

Try not to take out a Quality Mortgage Indemnity Guarantee (MIG) - MIGs are normally only charged on loans of 90 per cent to value. A MIG is a one-off remittance created to the firm that protects them if you are unsuccessful keeping up with repayments and your real estate ends up being repossessed.

When the interest rate decreases try and keep your repayments the same as prior to the rate drop. This way you will be paying more than the minimum every month. Your mortgage deal will be completed faster.

Getting the right mortgage quote can be sometimes very difficult. Using the Internet or going to your local high street shop to get mortgage quotes can be your first step. It is always a good idea to do both and compare what works out the best mortgage deal.

There are some mortgage firms which charge no fee whatsoever, this is simply because there are too many mortgage providers and every firm are in competition with each other.

When homeowners apply for a mortgage quote, they mainly are looking to buy a new property, remortgage a property or buy to let. If you are looking for a mortgage quote it is very important you get the best deal possible as you will save more money on the long term.

Securing debts against your home has to be taken very seriously otherwise your home maybe repossessed if repayments on your mortgage are not paid. Getting a mortgage deal can be difficult for some people it can be even more difficult keeping up with repayments.

If you require a Mortgage Quote, please visit www.mortgagequotes.me.uk

Article Source: http://EzineArticles.com/?expert=Chetan_Bhardwa

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